Philadelphia sued seven banks including JPMorgan Chase & Co. and Bank of America Corp., accusing them of costing local governments billions of dollars by colluding to fix the prices on floating-rate bonds issued to finance public works.

UBS Group AG was ordered to pay more than 4.5 billion euros ($5.1 billion) by a Paris court that found the bank guilty of helping wealthy French clients stash funds in undeclared Swiss accounts. Shares of UBS fell as much as 4.8 percent.